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| Action Insight | Candlesticks Trades | Markets Summary | Action Bias | Top Movers | Daily Technicals |
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| Action Insight Market Overview | Markets Snapshot |
Mid-Day Report: Euro Dips as OECD Urged More ECB ActionsEuro dipped against dollar and yen today as OECD warned that Eurozone is once again the biggest threat to global economy and urged aggressive actions from ECB. The Australian dollar pared back some of the earlier loss but stays generally weak. Dollar remains firm against commodity currencies in general and yen and is bounded in tight range against Sterling. In other markets, European stock indices opened lower today but quickly reversed the losses. US futures also pared back some losses and point to flat open. Commodities are mixed with gold mildly up while crude oil stays pressured. |
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| Featured Technical Report | |
USD/CHF Mid-Day OutlookDaily Pivots: (S1) 0.9314; (P) 0.9341; (R1) 0.9362; More.... USD/CHF recovers mildly today but stays in range below 0.9395 temporary top. Intraday bias stays neutral for more consolidations. In case of another retreat, downside should be contained well above 0.9175 support. Larger rally is expected to resume later. Break of 161.8% projection of 0.8702 to 0.9036 from 0.8855 at 0.9395 will target 261.8% projection at 0.9729 next. |
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| Orders and Options Watch | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
US Session: Orders and Options WatchJPY: Dollar kept a firm undertone but sell orders are still noted at 107.40-50 with stops building up above barrier there, more selling interest is tipped at 107.75-80 and ahead of next barrier at 108.00 with more stops placed above, offers are expected further out at 108.25 and 108.50. On the downside, bids are raised to 107.00-10, 106.80-85 and 106.65, more buy orders are sitting at 106.40-50, 106.25 and 106.00, fresh demand should emerge around 105.85-90, 105.65 and 105.50. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Forex Trade Ideas | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trade Idea Update: USD/CHF - Buy at 0.9290Although the greenback has rebounded after holding above previous support at 0.9315, break of last week's high at 0.9396 is needed to signal recent upmove has resumed and extend gain to 0.9417 (61.8% projection of 0.9126-0.9336 measuring from 0.9287 and 50% projection of 0.9176-0.9380 measuring from 0.9315) but loss of upward momentum should limit upside to 0.9440-50, risk from there is seen for a retreat later. Trade Idea Update: EUR/USD - Sell at 1.3010As the single currency has retreated after faltering below resistance at 1.2988, consolidation would be seen but reckon downside would be limited to support at 1.2909, bring another corrective rebound to 1.2988, however, expect 1.3000-10 (50% Fibonacci retracement of 1.3160-1.2859) to limit upside and bring another decline. A break of support at 1.2884 would bring retest of indicated support at 1.2859 Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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